Does trans fluid wear out

I am planing to do some drag, and a bit of street driving, I hate traffic, it is an A/C car, but I removed it, (fixing to get my tag n ins, YES!) and it's about to really hot in FL.. Took me 5 years to get this far. And I am just a carpenter, so I would rather spend a little more now than a lot more later. My other Mopars were 4 spds, so i have never had a good build w/ an auto. And I would not have w/out help from you great guys on this forum. What size cooler/ fan would you recommend? Thank You!
PS
1970duster
Can I borrow your cup-holder?

Please start your own thread.